Major global airlines projected layoffs, furloughs and capacity cuts over the next few months, with Air New Zealand on Tuesday warning it expected staffing levels to be 30% lower than it is now, due to the coronavirus pandemic.
FILE PHOTO: An Air New Zealand aircraft passes a fuel truck on the tarmac of Auckland Airport during fuel shortages in New Zealand, September 20, 2017. REUTERS/Nigel Marple/File Photo
Data firm OAG said the aviation industry was less than half the size it was in mid-January due to the rapid capacity cuts implemented by airlines around the world. Around 40% of the world’s passenger jet fleet is now in storage, according to data from aviation firm Cirium. The virus “has seen us go from having revenue of $5.8 billion to what is shaping up to be less than $500 million annually,” Chief Executive Officer Greg Foran told staff in an email. “We expect that even in a year’s time we will be at least 30% smaller than we are today.”
Air Canada will cut second-quarter capacity by 85%-90%, place about 15,200 unionized employees off duty and furlough about 1,300 managers, beginning on or about April 3.
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